July 26 WBC ETF Market Snapshot

Markets rallied today on ECB statements, and naturally European country ETFs EWP-Spain and EWI-Italy benefited the most from this chatter, up 7.2% and 6.5%, respectively.  Other European ETFs followed suit, with larger than average inflows into EFG-EAFE Growth.

ITB-Home Construction also rallied today, recovering from yesterday poor home sales numbers.  GDXJ had another strong day, up 3.8%.  VIX based ETFs gave back some of their recent gains, with VXX down nearly 7.5%.

Flows on the desk once again saw inflows into High Yield Corporate Bonds, HYG and JNK.

We also saw sellers of the short and medium dated Treasuries, IEI-3-7 Year and IEF-7-10.

Broad based commodity ETF DBC saw inflows, while we saw mostly outflows from Emerging market ETFs today, with sellers of EWT-Taiwan, and EWM-Malaysia.

Lastly, the trend in domestic Preferreds persisted, with a buyer of PFF-US Preferred. Thanks for reading, -Shakes.

Eric Mustin (sitting in this week for Chris Hempstead)

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